VINP · Change Agents Corp.

Vinci Compass delivered its strongest quarter ever for Fee Related Earnings at R$96.3 million, up 47% year-over-year, with FRE margin expanding to 35.4% from 28.4%, reflecting full contribution from the Verde acquisition, fundraising momentum in Global IP&S and Credit segments, and disciplined cost execution. CEO Alessandro Horta highlighted the highest quarterly FRE in company history and ongoing expansion via the announced BACS combination in Argentina alongside Verde integration. Management fees drove 25% growth to R$244.9 million, fueled by Verde and organic fundraising, though advisory fees declined 35% to R$16.1 million due to timing of commitments and quieter deal activity. Adjusted Distributable Earnings held steady at R$62.2 million despite lower realized financial income from reduced cash position amid capital calls and bonuses. Total AUM reached R$347 billion, up 14% YoY, supported by R$52 billion LTM capital formation and appreciation across key segments, offset by FX headwinds. GAAP profit surged to R$109.3 million from R$55.9 million YoY, with basic EPS at R$1.57. The US$0.17 quarterly dividend underscores commitment to shareholder returns amid scaled operations in Latin America's alternative investments landscape.